Gameflip (FLP) in a Nutshell

Gameflip aims to create a platform for the buying and selling of digital goods that gamers and publishers can trust. Gameflip is similar to Enjin in that they want to bring blockchain technology to gaming. The main difference here is that Gameflip wants to partner more directly with the game developers and publishers.

Gameflip – Company Background

Established in 2014 in Silicon Valley, California, USA, Gameflip has built a robust marketplace for gamers to buy and sell digital goods

Over 2 million gamers buying and selling gaming digital goods safely with Gameflip

Over 10 million web views and 2 million mobile app accesses monthly

Millions of digital goods transacted monthly

Problem Identification and Solution

The current problem with most games is that with no official means of extracting value for their virtual items, players have to resort to grey market means. The grey market inherently comes with a lot of risks.

Buyer scam – the seller delivers the goods but the buyer does not send the funds or issues a chargeback.

Seller scam – the buyer sends the funds but the seller either doesn’t send the goods or sends something different than was advertised.

To solve this problem Gameflip intends to use their FLIP token along with smart contracts from ethereum to eliminate issues of trust. They want to protect buyers and sellers from fraud.

Advantages and Features

Ownership of goods – Gamers can own and securely store their digital goods on the blockchain

Protects against fraud – Gamers can freely buy and sell their digital goods instantly and safely with smart contracts

Cooperation with publishers – Game developers and publishers will have new revenue streams and substantial incentives to adopt FLIP

Free and Open-sourced SDKs – Developers can independently build tools and benefit from having their tools adopted by users

FLIP token (FLP) and ICO Information

The FLIP token (FLP) will have 100 million total supply. Once all tokens have been issued, no new ones will be created.

Final thoughts

This seems like a step in the right direction for both gaming and cryptocurrency. It’s a way for game developers and publishers to hop on board and leads to wider adoption of blockchain technology. It also helps that they have advisors with experience and, more importantly, pull in the industry.

However, I must say that being an advisor is one thing but having actual deals in place is a whole other beast. We are trusting that Gameflip will be able to get these publishers on board.